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Galion-based Peco said Wednesday it lost $2.4 million, or 9 cents a compared with a loss of or 4 centsa share, in the firsy quarter of 2006. Revenue for the quarter ended Marchj 31 stoodat $8.1 million, down 22.7 percent from $10.65 million last year. The company attributed the loss to excess factoryg and production costs and lower sales to an undisclosedkey customer. "Recognizing the ongoinv uncertainty, the company implemented a cost-reduction program during the first quarterr of2007 that, when fully implemented, is expectef to deliver $4.
2 million of annualized cost savings with improvement s being realized starting in the second quarter of CEO John Heindel said in a He also said the company plan to outsource certain manufacturing operations to cut Peco (NASDAQ:PIII) provides engineering and installatiom services and makes communications power systems and equipment for the telecommunicationss industry.
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